XCMG to boost Brazil in­vest­ments

Chi­nese group XCMG, the fifth big­gest man­u­fac­turer of con­struc­tion ma­chin­ery in the world, in­tends to in­crease its pres­ence in Brazil, the com­pany’s Pres­i­den­tWangMin said on Tues­day. Wang said the com­pany was con­fi­dent that re­cent mea­sures taken by the Brazil­ian gov­ern­ment would en­sure safety for its in­vest­ments. “Brazil has a lot of po­ten­tial and the Brazil­ians are hard­work­ing,” he said. “Dur­ing the cri­sis sev­eral com­pa­nies left the coun­try, but XCMG con­tin­ues to trust the Brazil­ian gov­ern­ment and the cur­rent ad­min­is­tra­tion. We will keep in­creas­ing our in­vest­ments in Brazil.”